Friday 20 February 2015

The Farage Tax - UKIP's threat to Britain's economy

My company has just imported £800 worth of components from the Far East to be used in the manufacture of electronic products to be built in Leicester. UK customs have issued me with no less than 13 pieces of paper, and I have been charged £35 import handling fees. Had I imported the same components from the EU no paperwork would have been issued, and no charges would have been levied. That is because the Maastrich treaty, delivered by a Conservative Government, created the Single Market that has abolished swathes of regulations, removed trade barriers, pointless paperwork and costs. I have now paid a surcharge of almost 5% of my costs because the country of origin was not in the EU. I call this 5% surcharge the Farage Tax – it is a cost burden that every business in Britain will have to bear on every transaction with a company in EU the minute that UKIP get their way. The same charges are levied on trade with Norway and Switzerland, so a Free Trade Area would make no difference. UKIP want to impose costs, bureaucracy and taxes on British Business. UKIP are a threat to Britain's economy and British jobs, which is why every credible business organisation does not want Britain to leave the EU. Thankfully The Conservative Party, The Labour Party and the Liberal Democrats are all committed to Britain staying in the EU, as are the majority of the British public.

Thursday 12 February 2015

We are all up to it together - Tax Avoidance in Greece and the UK

If it is "normal" to avoid paying tax in the UK, what right has George Osborne to condemn Greeks for doing the just that?

Saturday 7 February 2015

Labour are the Party of Business

I lost my job as a Chartered Engineer during the savage years of recession created by the Thatcher Government, when so many of our wealth creating industries were undermined and destroyed. But I had a skill, and set up my own small engineering design business. It benefited greatly from Gordon Brown's time as Chancellor, who recognised that small businesses are the back bone of UK enterprise. Small and Medium Enterprises (SMEs) represent over 50% of UK GDP, are almost wholly British owned and offer a wide range of employment opportunities. Being small, SMEs are able to move quick to secure new markets, and make this country more prosperous. I was able to grow the business thanks to Labour's low Corporation Tax levels for small businesses; now abolished. I had assistance from my Regional Development Agency, who provided advice and helped me build supply chains; now also abolished. We export to many EU countries, which has been made so much easier thanks to the European Union which has slashed red-tape for exporters and reduced the cost of selling overseas; which UKIP and many Tories want us to leave. I also work part-time training the engineers of tomorrow at a University. We need skilled engineers and technicians to create wealth, but how many people can afford the £9000 a year fees imposed by the Coalition Government. Why has the Government undermined the enterprise culture in our schools with policies that downgraded the 'value' of 'Design & Technology' and removed practicals and course-work from exams. Businesses need people who can work throughout the year (coursework) and apply their knowledge to create wealth (practicals).  My business is certainly not 'big business', but I am proud to pay my fair share of British taxes. I am backing Labour like many, many other small business owners.

Monday 2 February 2015

The Conservatives are not the Party of Enterprise

The perception that Labour is anti-business has no basis. I set up my business when Gordon Brown was Chancellor which benefited greatly from his low corporation tax policies for small business now abolished. Labour's recognises that Small and Medium Enteprises (SMEs) are the bedrock of UK PLC. SMEs are almost exclusively British owned, represent over 50% of UK GDP, and offer a wide range of flexible and skilled employment opportunities. In contrast the Conservative Party has shown total disinterest in SMEs, preferring to offer substantial tax cuts to Large Enterprises. I now pay a higher tax rate on my profits than many well-known multinationals, and am proud to pay my correct share of income tax, unlike some of Labour's critics. As an engineer I am also appalled by the dumbing down of our education system to remove any credit for the skills that are essential to support our innovative base. These include punitive fees for higher education, forcing highly skilled overseas post graduates to leave the country, and in our schools downgrading the value of key subjects such as Design and Technology and abolishing coursework and practicals in assessments. We need a skilled workforce, well practiced in technology and innovation, and demonstrably able to apply those skills to create wealth. The abolition of Regional Development Agencies, who played a major role in promoting the interests of SMEs was the Tories greatest folly. Finally, but not least, the Conservative Party's threat the UK's continued membership of the EU threatens our export markets and demonstrates their total lack of business credentials.